Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 856,878 shares of the utilities provider’s stock after selling 11,185 shares during the quarter. California State Teachers Retirement System’s holdings in Public Service Enterprise Group were worth $48,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Public Service Enterprise Group by 5.0% during the 3rd quarter. BlackRock Inc. now owns 54,426,510 shares of the utilities provider’s stock worth $3,060,399,000 after purchasing an additional 2,576,034 shares during the period. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 44,333,301 shares of the utilities provider’s stock worth $2,492,861,000 after purchasing an additional 534,812 shares during the period. State Street Corp grew its stake in shares of Public Service Enterprise Group by 1.2% during the 3rd quarter. State Street Corp now owns 31,594,778 shares of the utilities provider’s stock worth $1,776,574,000 after purchasing an additional 368,768 shares during the period. Legal & General Group Plc grew its stake in shares of Public Service Enterprise Group by 24.4% during the 2nd quarter. Legal & General Group Plc now owns 6,965,031 shares of the utilities provider’s stock worth $440,749,000 after purchasing an additional 1,363,974 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Public Service Enterprise Group by 0.7% during the 2nd quarter. Northern Trust Corp now owns 6,071,379 shares of the utilities provider’s stock worth $384,197,000 after purchasing an additional 39,373 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $58.53 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. Public Service Enterprise Group Incorporated has a twelve month low of $52.51 and a twelve month high of $75.61. The stock has a 50 day moving average of $60.74 and a two-hundred day moving average of $60.18. The stock has a market cap of $29.19 billion, a P/E ratio of 28.41, a P/E/G ratio of 9.92 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.43 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be paid a $0.57 dividend. The ex-dividend date is Thursday, March 9th. This represents a $2.28 dividend on an annualized basis and a yield of 3.90%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s payout ratio is currently 110.68%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, March 13th. TheStreet raised shares of Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. StockNews.com started coverage on shares of Public Service Enterprise Group in a research note on Thursday. They issued a “hold” rating on the stock. Guggenheim decreased their price objective on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Finally, Morgan Stanley reduced their price target on Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.20.

Insider Transactions at Public Service Enterprise Group

In other news, COO Eric Carr sold 7,105 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the completion of the sale, the chief operating officer now owns 6,482 shares in the company, valued at $373,557.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Profile

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.